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Arctic Hunter Maintained Steady Oil Production in Fiscal 2012, Despite Summer Surplus

Arctic Hunter Energy Inc. (AHU.V) today released a summary of corporate highlights for the year ended June 30, 2012, noting that as a result of its exploration activities, the company was able to maintain steady production from its heavy oil properties of approximately 30 bbls per day, creating revenue of $760,000 for fiscal 2012.

Revenue from the company's heavy oil properties has been negatively impacted this summer by the glut of oil in mid continental North America due to increased production in North Dakota, Alberta and Texas, and insufficient pipeline capacity to transport this oil south to major markets, the company said.

Arctic Hunter said it had reviewed many oil and gas development opportunities in fiscal 2012 however, none of the opportunities presented have offered the potential returns attractive enough to offset the level of risk and capital required.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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